What happens with the holding deposit if the tenant is rejected?

Tenant Discussion
1

Hi there,

I was wondering if anyone knows what happens with the holding deposit if the tenant is rejected? Is that refunded?

Thanks

2

Hi Anthi,

Our Help Centre article here answers this:

Any questions, let me know.

George

3

I did not get back holding holding. What’s going on?

4

Hi Natalia,

It’s hard to say without knowing the specifics of your application.

If the landlord rejected your application, then you should have received an email confirming the refund.

If you’re unclear as to what’s happening, feel free to drop the team a message using the ‘Need Help’ box from any page of the website.

Thanks,
Simon

5

holding deposit refunded back?
how long for it to be returned?

6

Hi Valerie,

We’ll email you to confirm that a refund has been issued. At the point you receive that email, it has already been processed.

We process all our refunds back onto the card that was used to pay - once a refund is triggered our card processor processes the refund directly. They state:

“We’ll submit any refund you make to your customer’s bank immediately. Your customer will then receive the funds from a refund in their account approximately 5-10 business days after the date on which the refund was initiated. (This is an aspect of how the banking system works.)”

In case of any issues please contact the team here - we can then look up your account and tailor our advice to your situation.

Thanks,
Simon

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7

This information was confusing
whos the customer?

And whats An Iniciating date ?

8

The customer is the person receiving the refund. So if you received an email confirming you have been refunded, this is you.

I agree the “date on which the refund was initiated” is confusing wording. This is the point at which OpenRent tell our payment provider to refund the payment. That will be the same date/time as the refund confirmation email you have received.

Hope this helps clarify :slight_smile:

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